Ron Osborne, Managing Director/Broker of Sperry – RJ Realty, represented the Seller, Repair Business Holdings LLC, and the  Buyer, 1543 S STATE RD 7 LLC, in the sale and purchase of 1543 S. State Road 7 in Ft. Lauderdale, Florida.

The Seller was looking for a long-term sale-leaseback, however, the ultimate buyer is an end-user. The parties agreed to a one-year lease to allow the seller time to relocate his business.

The property is currently being utilized as a transmission shop.

Sperry – RJ Realty has represented both parties previously in unrelated transactions.

The buyer will ultimately use the property as an automotive repair business that will serve both the public as well as the vehicles from his own independent car dealership located on Oakland Park Blvd.

The property sold for $1,575,000. The buyer obtained a loan of approximately $1,100,000 from American National Bank, which was represented by loan officer Jeffrey Martin.

Osborne has been working the Broward County Market since 1978 and is a top producer in the Sperry Commercial Global Affiliates (SPERRY) network.